More than a year after the bankruptcy of investment fund Three Arrows Capital (3AC), one of its co-founders has recently made headlines by attempting to flee Singapore. Indeed, after refusing to cooperate with Singaporean authorities, Su Zhu was arrested.
The Arrest of Su Zhu in Singapore
Now, it is one of its co-founders, Su Zhu, who is attracting attention by attempting to flee Singapore. As a result, he was apprehended by the Singaporean police while he was already about to board a plane at Singapore airport.
This arrest is related to the bankruptcy of 3AC, as the liquidator of the company, Teneo, indicated that they had received an arrest warrant against the former executive. The reason is simple: Su Zhu simply refused to cooperate with justice in the context of an investigation involving liquidation management.
This arrest is expected to result in Su Zhu being sentenced to four months in prison. On the other hand, Kyle Davies has not yet been apprehended, as he is currently untraceable. Nevertheless, he is also subject to a similar arrest warrant as Su Zhu.
The financial markets regulatory authority in Singapore states that ‘the two co-founders would have deceived the regulator with a blatant disregard for regulatory requirements’.
The behavior of Su Zhu and Kyle Davies is not really surprising, as they seem to be incapable of complying with the rules in force. Now, like Sam Bankman-Fried, the creditors of 3AC are probably hoping that they will finally be brought to justice.
